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International business and economy - Essay Example
Author : frieda36
Pages 5 (1255 words)
PM Company's product line is suited to an elderly and infirm clientele. The wheelchairs, walkers and other types of "mobility" products that account for the bulk of the company's sales are most likely to sell well in an environment where the population is aging or where there are large numbers of people with physical disabilities…
This memo outlines the top 3 such markets outside of the U.S., and discusses the cultural, political, economic, legal and technology issues that must be addressed in order to fully realize the sales potential offered the identified countries. Differences between a successful sales approach in these target countries versus such approaches in the U.S. will also be examined.
Outside of the U.S., there are several regions with populations that are aging rapidly. Birth rates have fallen off substantially throughout much of the industrialized world in recent decades, resulting in graying societies that are becoming deeply concerned about the economic impact of ever increasing ranks of the retired supported by shrinking numbers of working age people. Arguably, these trends have been most pronounced in Europe and the Far East. Several countries, including Britain, Germany, Japan, China and Thailand have been cited by demographic experts as being on the cusp of a crisis brought on by the unprecedented shift of population toward the elderly. That "crisis" translates into business opportunity for PM Company through enhanced sales potential. The three countries that represent the greatest of this potential are Japan, China, and the European Union in general - Britain and Germany in particular. ...